What type of accounts are Sales Returns and Allowances and Sales Discounts?

Are you having trouble answering the question “What type of accounts are Sales Returns and Allowances and Sales Discounts?”? If that’s the case, you don’t need to worry anymore. Azanswer has brought you the correct answer to your question.

What type of accounts are Sales Returns and Allowances and Sales Discounts?

A. Contra asset accounts
B. Expense accounts
C. Contra revenue accounts
D. Contra expense accounts

Answer: C

We hope you have got the correct answer to your question “What type of accounts are Sales Returns and Allowances and Sales Discounts?”, which was part of Accounting MCQs & Answers. Thanks for choosing us.

Leave a Reply 0

Your email address will not be published. Required fields are marked *